Horst Jicha, a German national accused of orchestrating a $150 million cryptocurrency fraud scheme, is now a fugitive after allegedly tampering with his ankle monitor on Oct. 3. Jicha had been on home detention in New York City under a $5 million bond, guaranteed by his domestic partner and children, awaiting trial on securities fraud and conspiracy charges.

John Marzulli, a spokesperson for the Brooklyn U.S. attorney’s office, was quoted by CNBC as stating:

There’s a very active investigation underway to capture him.

Jicha failed to appear in Brooklyn federal court, prompting prosecutors to initiate bond forfeiture. “We are going to forfeit the bond,” Marzulli stressed, referring to the $4 million portion guaranteed by Jicha’s family and associates. His ankle monitor stopped working the day before his disappearance, and he ignored a request to visit Pretrial Services the following day.

Prosecutors allege that Jicha led a multi-level marketing scheme known as USI Tech, falsely promising investors an average return of 140% in 140 days. FBI Assistant Director James Smith said in January:

In reality the platform was just a facade, and when questions arose, Jicha stole millions of his investors’ money and fled the country.

Much of the fraudulently obtained cryptocurrency, including ether and bitcoin, was sent to addresses controlled by Jicha after USI Tech ceased operations. U.S. Attorney officials explained: “It was a multilevel marketing scheme that relied on investors recruiting other investors below them to buy various purported cryptocurrency investments.”